Details Emerge On B2B Buyout Credit

  • 08 Sep 2002
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Credit Suisse First Boston is launching syndication today of a credit facility backing Francisco Partners' acquisition of GE Global eXchange Services (GXS), a business-to-business e-commerce company. A banker said the $210 million credit comprises a six-year, $175 million institutional tranche and a five-year, $35 million revolver. Pricing and ratings on the facility have not yet been set. CSFB bankers did not return calls.

The $800 million acquisition also is being financed with bonds, and approximately half of the acquisition will be funded with equity, one banker said. The status of the bond offering could not be determined. A spokesman for Francisco declined to comment.

The divestiture from General Electric means GXS won't compete with other GE divisions for development, while the acquisition will provide GXS with opportunities to acquire other companies and pursue synergies, a company spokesman said. GXS, which helps businesses improve supply-chain management, had operating profits of $167 million last year (LMW, 6/30).

 

  • 08 Sep 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 128,864.18 374 11.17%
2 Bank of America Merrill Lynch 102,984.87 299 8.93%
3 JPMorgan 101,325.97 295 8.78%
4 Wells Fargo Securities 91,373.90 263 7.92%
5 Credit Suisse 76,082.53 203 6.60%